By using the methods of singular value decomposition ，the investment risk of oil and gas along the “Belt and Road Initiative” countries from 2000 to 2020 was analyze . The research reveals that: From the perspective of country, Qatar, Saudi Arabia, the United Arab Emirates and Singapore have favorable oil and gas investment environments, while Iraq and Yemen are the riskiest. From the perspective of spatial distribution, the investment environment of oil and gas is relatively complex along the “Belt and Road Initiative” area, which is mainly manifested as: the risk of oil and gas investment in the Middle East is quite different division into two opposing extremes. The situation of oil and gas investment in Southeast Asia and South Asia is relatively stable, and there is little difference in oil and gas investment environment within the region. From the perspective of risk variation trend, the investment environment of oil and gas changed greatly from 2000 to 2020. During the whole research period, 2008 and 2013 are the main time nodes. Oil and gas investment was on the rise before 2008. However, the development of oil and gas industry was stagnant from 2008 to 2013, and the investment risk of oil and gas began to recover and become better after 2013.